The Sun. — London, England, 1826-02-08 00:00:00

PARLIAMENT, HOUSE OF,LORDq, Pro. 7. The Bishop of CHESTER presented a petition from the Milk Weavers, Dyers, and others, of Macclesfield, praying for relief. On the motion of the Earl of SU APTESIIU nv, It was or deed that the Rouse shall , not receive any petition on private sills after the 313th of March, nor any report from the Judges on petitions fa private Bills after the 7th of April. - A, person from the Treasury presented copies of the Corre spondence since the Ist of - January last, between the First Lord of the Treasury and the Chancellor of the Exchequer, sold the,Oovernor and Deputy-Uovernor of the Bank, on the subject of the Bank Charter. The names of the PecrS who are to sit and hear Appears dur ing the Session were drawn by ballot. MR .COWPEn. The Earl of LIVERPOOL, pursuant to his notice rose to call their attention to a motion founded on the letter of Mr. Cowper,• which he read yestirday. Ile had the eatisfaction of feeling that the motion with which he should conclude was .one which would meet with no opposition from any mem ber of their Lordships' htufse. Their Lordships had heard the letter of Mr. Cowper read, and they knew how that gentleman had discharged his duty ; he might *ay the important official dudes, which he had executed for rtpetiod of 41 years. There was no instance of any individual in office having discharged his duty with more diligence, assiduity, and integrity than Mr. Cowper had shown in doing the business of that 'louse. The situation was important in various respects. It was necessary that the person who occupied the situation which Mr. Cowper had held, should be well acqUainted with the eourse and forma of the judicial proceedings. The , office was also very import ant from its connexion with the forms and regulations or the House. This was a kind of knowledge which could only be ocquired'by experience, and it was no disgrace to any one who pat on the woolsack to say that he might. be assiitted by Mr. Cowper with respect to the forms of the House. No one better knew than the individual of whom he was speaking what was due to the dignity of the HOiltie and m the right maintenance or its orders. Resides, his 'duty wits always discharged With so much propriety and urbanity, that during the long period in which he served his office, no 'one he believed, had ever had occasion to complain of his con duct. For his own part he could speak to a period of :10 years, and he never recollected any instance in which he had given °Mince. With respect to' the situation of assistant clerk, regulations Were made some "ears ago. Mr. Cowper then intimated that he was williog to submit to any regulations which might be thought proper to be made. Ile described the nature of the dottea he had to perforni, and left the whole question to those to whom the con sideration of the regulations were referred, declaring that he would be perfectly satisfied with ,any arrangement which might be made. The late Earl of ltosslyn, when Chancellor, recent . mended that a pension of 1,000/. per annum should be granted •to the clerk on retiring from office, and that re commendation was adopted. Mr. Cowper then stated, that if nothing t'urther should be granted to him, he wiculd be perfectly satisfied. Their Lordships, however, would not Avail themselves of this readiness ,to wave any future .claim, nor be guided by any such consideration when they took a view of the circumstances of the case. They had sonic years ego turned their attention to what was due to the Gen tlemen sitting at the table of the House. 'they had now to take into their consideration a case of retirement, and he was .convinced they would willingly concur in doing what was not an act of liberality bin of justice.. lie concluded by moving a resolution to thus effect :—" That this House receives with sincere concern the resignation of Henry Co4vper, Esq.. on account of his health, and think it right to record the juin sense they entertain of the seal, ability, dilligence, and inte grity, with which he executed the important duties of Its office during a period of more than 40 years. Also that a humble Address be presented to the King, laying before his Majesty a copy of the letter of the said ilanry Cowper, Fa4q., marl likewise the ,resolution of, the House respecting that Gentleman, and recommending him to his Majesty's 'loyal grace and bounty. Lord ELIJENIIOII.OII6II had no objection Lo the sub stance of oho , resolution ; but the wording of it was is proof that Mr. Cowper. was absent : if he had been there, it would mot have been drawn up in such liaise and ungrammatical langintge, The trurl of LIVERPOOL was aware that the resolution was not grammatically correct; but the ItalgUage Was con forMable to the usage of Parliament. !rite resolution was agreed to, and time House adjourned to Thursday. and unfit for service. Be (Sir Isaac Coffin), however, did not believe a Word that he Paid. Mr. HUME thought the Gallant Admiral's decision a hasty one. This fact, at least, as regarded the state of the navy, was clear—morel money had been voted for repairing ships since the close of the war, than would pay for all the ships at present in the service. Mr. CROICER said, that the petition was unworthy of any attention at all. The House would have more than enough to do, if they inquired into every wonder which the disordered imagination of an individual might suggest. He (the lion. Secretary) had reedited such commuldeutions from Mr. Bur ridge as, if they were seen by the House,would convince every one that he was utterly unworthy of notice.. For himself he could state, and be did it without tear of contradiction; that the navy of England had never been in a sounder or more efficient condition than it was at the present moment. The allegations of the petitititier seemed to hum to be perfectly insane.. Sir ISAAC COFFIN said, that Burridge had been tormenting him, personally, for three years, And- telling him that every ship in the navy was rotten. lie believed the state- ment of the petitioner to be entirely false.. . Mr. AiMMIII.7 moved for returns connected with the transactions of the flank;, relative to the Alilitarrand Naval Pensions. _ _ THE GUARDS. Mr. HUME said, that he was desirous of extending his motion for a return relative to certain troops of the Oxford Blues, to the regiments of Chianti, horse and foot, gene-: rally. He found that, by an exemption from the law laid .down by the Acts, the 45th and 41Ith of the late King, there was no audit fur the 'accounts of the several regiments of ,Guards of the Same character with that applied to the expendi tore of the rest of the army. The commanders of the regi menta handed their riecountit to the King, and the King transmitted them to the Secretary at War ; but there was no regular audit, anti the subject'was one of considerable im portence. It appeared that the average cost to the country, men and officer!, in the bire Guards, was 741. per annum. In the Horse Guards the charge was nearly equal. In the Dragoon Guards the cost was about 561. So again, in the Foot Otterds, the average Charge per man was 341.; and in re ? gitnents of the line only 311. lie himself thought that tide difference of charge arose in some measure hom the absence of the audit, and was desirous of hearing some explanation of it. At all events the want of such a check left the system open to suspicion ; and he could see no objection to placing the Guards upon the same footing with all the °diet troops in the service. fie could not see how the inequality between the number of officers in full pay in these corps and the troops of the line could be justified. During the war he was aware the forces were so augniented that it was difficult, if not possible, to come at a proper reduction at the peace, without placing te great number of officers on half-pay. The proper economy fur Government to !pursue was, to MI vacancies for the supernumerary lists. Ile was sorry to say that not only that was not done, but while many officers of reduced troops had retired on their full pay, new, ones were actually introduced to fill vacancies, thereby' greatly swelling the expenditure of the establishroetit, end most unfairly passing over the supernumerary officers on the list of half-pay. It appeared that in 11114 two troops of the Oxford Blues were reduced, the men were discharged, the officers kept on full pay. He was no aware of any -reason which could be given why such heavy expellees should be incurred for the officers, wliile the men were dismissed without cere mony. It' the accounts which he was about to move for were .produced , theywould see what new promotions had taken piece, and the House might, by applying to the Noble War-Secretary obtain explanation on any particular cases. lie had extended his motion to the Life Guards and to the Foet Guards, and he hoped that there would be no objection made to it on that ac count. He mentioned the appointment of two new officers, who luarsucceeded other two men retiring, and who had conic in without purchasing, while there were thousands of officers unemployed on the half-pay list. Gentlemen on the other side might think that 7s. or His. a-day was not much for an officer and his family. But then it must be recollected that there were thousands aupon thousands of poor females among the operative classes who had not so much as 7s. a-week to live on for the year 'round ; so that PO exertion of Government should remain untried to effect every possible reduction. He complained of ,these regiments of military being without any adequate cheek or contronl as to their accounts. Now it was indispensably necessary that every branch of the public ser vice should be equally watched and checked as to their eipen. dime; and there was 110 reason why the Noble Lord should not have cognizance of the aceounts of those regiments, the same as he had of the regiments of the line. The returns ' being before them, die House might adopt suitable proceed ings ; in the mean time he ventured to vouch for a rims facie case appealing on the .papers which would call for the. inter ference of the House. He then Moved for returns of the officers retired on full pay %ince stile reduction of two troops of the Oxford Blues, in Ifilli; likewise of the va9ncies which had - oacurred during the same time in the rentaiiiing troops ; and of the number of new. appointments and of the officers remaining at the time on foll pay, The lion. Gentleman moved for similar returns of the Life and Foot Guards. Lord PALIiaIItSTON said that there could be no objection made on his part to the production of the papers ; and he as sured the House, Moreover, of the readiness of his Majesty's Government to give every degree of explanation witithin their pewer. He had only one remark to make on the form of the lion. Gentleman's motion. The node° was confined to the Dines—he had extended it to the Foot and Life Guards. This was not the usual course of di.* proceedings • anti the House from a sense of public convenience, had established the rule of requiring Members to • limit their motions to the terms of the notices given. As to the objections taken by the Honourable Gentleman to the diffbrenee between the' establishments of the gem& and those: of the horse 'and infantry of the line, the question had been frequently anti fully discussed in that House, and be wdrild not now buffer himself to be drawn into it. Whether wright or wrong abstractedly, Government had determined, and parliament had repeatedly concurred in the propriety of keeping the two kinds of force, the guards and the regiments of the-line, on a different footing, As to the accounts of the regiments of foot and horse-guards, though they. did not come before his office in the same Aimee and with the same details, at, did the accounts of the other forces, it was a mistake to suppose that they did• not rendyr any accounts, or that there was ups possibility of the public money being %Mita. There were sufficient and satisfactory guarantees for the conduct of these regiments, and it was absolutely impossible thutany e r ,ocoft i . ! bet: ri c tt. i it t ii t ait t.tey h ~t y E , st n e money y o f s o pay and other of the anted txpenee tel cover wow) in the regiments of gr 6 f horses, i t yl e d r i e omi w dl i c et r ro e cl s7e r e gt i ei ti issues by order, of Parliamen t , With regard to the incident in question, there were no takers ou half-pity when the two troops of Blues were reduced. those who held promotions were entitle to sell out on retiring. The only promotion of a new officer was subsequently to the battle of NiiitterloO. A Major fell in the action, and from the Kollar gallantry of this regie anent on that eventful day, it was thought just and proper that the whole line ot,officere should be ad viewed. This made way for the promotion of one officer only ; anti when the. House was told that be wits the brother of the brave auto who fell, and that he had behaved equally well in the field, they would not think the distinction was bestowed improperly . .—(llear, heart) With regard to (lithely new appointments in the Guards, it would be-tbund that they were pages of the King, whose pri vilege it hati'constantly been, after a certain term of service, to take the lint vacant e n signcy in the Foot, or the first cornetcy in the horse Guar 'lie entire number was perfectly ineig- Milt-ant ; but the papers would fully explain the circumstances which lied led to every promotion. ' SUPPLY. The CHANCELLOR of tho EXCHEQUER moved the Order of the Day for' the Howie gqiog into 4 Connuittee of the' whole House, on ttn►utiun for Supply.' Th e King's Speech was referred to the same Committee. The SPEAK t:it left the Chttcr--the Committee resolved pro fbrma to grant supplies— the House molded—the Report was I ordered to be received to,morrow•.—Adjourned. • . The French emigrants are already beginning to battle about their indemnity. A curious aa.e in which one of them appears was brought before a Paris Court on. Saturday inst. The litigants were Conde de Prefet of the Drubs, stud the Misrquis de Bridle's. The latter had an in demnity allowed hint to the amount of 115,000 franca, for confiscations made CM the estate of his motherland the former demanded the sum as the creditor or. the ;said. lady. The defence of the Marquis was, that his mother had paid M. de Milon. The receipts were at first missing, but have " ' 811 " the extraordinary demand of the Prefet; been found, at least to the amount of 83,000 franca. The Prefet . has incurred great odium for this donattml, which bus been charac• terised as rapacious and dishonest by the counsel of the Marquis. , A delay has been allowed, to •prodace the oriOnal receipts. CORRESPONDENCE with the BANK of ENGLAND. COPIES of COBIMUITICTIONS between the First Lord of the Treasury and the Chancellor of the Exchequer, and the Go vernor and Deputy-Governor of theiliank of England; relat ing to an Alteration in the,excluslve Privileges enjoyed' by the Bunk of England. Fife House, Jan. 13, MN. Gentlemen—We have the honour of transmitting to yOu ierewith a paper, containing our views upon' the present state of the - Banking System of this Country, with our suggestions thereupon ; which we request you will lay before th e Court of Directors of the Bank of England for their consideration.— We havb the honour to be, Gentlemen, your obedient humble seryanta, (Signed) ' LIVER POOL FREDERICK JOHN ROBINSON. The Governor and Deputy Governor of the 13ank of England. 'rite panic in the money market having subtilded, and the pecuniary transactions of the country having reverted to their accustomed course, it becomes important to lose no time in considering whether any measures can be adopted to prevent the recurrence in future of such evils as-we have recently ex- perienced. - However much the recent distress may have been aggra vated, in the judgment of some, by, incidental circumstances and particular measures, there can be no doubt that the prin cipal source of it is to be found in the rash .spirit of specula-' tion, which has pervaded the country for some thrie,'supported, fostered, and encouraged by the Country Banks. The remedy, therefore, for this evil, in future; must be found in an improvement in the circuliition of country paper ;% and the first measure which has suggested itself' 'to most of those who !dive considered the subject, is a recurrence to a gold cir culation throughout the country, as well as in the metropolbr and its neighbourhood, by a repeal of the Act which permits country banks to issue one and two pound notes until the year 1833 ; and by the immediate enactment of 4 prohibition of any such issues, at the expiration of two or three years from the present period. It appears to us to be quite clear that .uch a measure would be productive of much good ; that it would. operate as some check upon the spirit of speculation, and upon the issues of country banks; and whilst, on the one hand, it would dimi nish the pressure upon the t3ank and the metropolis, incident to an unfavourable stateof the .exchanges, by spreading it over a wider surface ; on the other hand, it would cause such pres sureto be earlier felt, and thereby insure an earlier and more general adoption of the precautionary measure.* necessary for counteracting the inconveniences incident to an export of the preciops metals. But though a recurrence to a gold circula tion in the country, for the reasons already stated, might be productive of some good, it would by no means go to the root of the evil. V{'e have abundant proof' of the truth of this position, in the events which took plate in the spring of 1793, when a convul. sion occurred in the money transactions and circulation of the country, more extensive than that which we have recently ex perienced. At that period nearly a hundred country banks were obliged to stop payment, and rarliamant was induced to grant an Issue of exchequer bills to relieve the distress. Vet, in the year 1793, there were ne one or two pound notes in cir culation in England, either by country banks or by the Bank of England. We hive a fUrther proof of the truth of what has been ad vanced; in the. experience of Scotland, which escaped all the convulsions which have occurred in the money market of Eng land for the last 36 years, though Scotland, during the whole of that time, has bad a circulation of one_ pound notes; and the small pecuniary transactions of that part of the United King dom, have been carried on exclusively by the means of such notes. The issue of small notes„ though it be an aggravation, cannot therefore be the sole, or even the main cause of the evil in Englund. The failures whic.h have occurred in England, unaccompa nied as they have been by the 'tame occurrences in Scotland, tend,to prove that there e must 'have been an unsolid and delusive system of banking in one part of Great Britain, and a solid and; substantial one in other. It would be entirely at variance with our deliberate opinion not to do full justice to the Bank of England, as the great centre orciretilation and etitnntercial credit. We believe that muds of the prosperity-of the country for the lust century, is to he, ascribed to the general wisdom, justice, and fairneis of the dealings of the Bank ; and we further think, that during a great part of that time it may have been, in itself and' by itself, fully equal to all the important duties and operations confided to it. But the progress a the country during the last thirty or forty years, in every branch of industry, in agriculture, Manufactures, commerce and navigation, has been 80 rapid and extensive, as tq make it no refection upon the Bank of' Eneland to say, that the instrument, which, by itself, was Nify adequate to former transactions, Is no longer sufficient without new aids, to meet the demands of the:present times. We have, to a considerable degree, the proof of this position, In the very establishment of so many country banks. Within the metnoi;jeof many living, and even of some of those tow engaged in public affairs there were no country banks, ex in a few of the great commercial towns. The money transactions of the country were carried on by supplies of cone and bank notes from London. the extent of the business of the country, and the improve ment made from time to time in the mode of conducting our increased commercial transactions, founded on pecuniary credit, rendered such a system ne longer adequate, and country banks must have arisen, as in fact they did arise, from the increased wealth and new wants of the country. The matter of regret is not diet 'country banks have beep . suffered to exist, but that they have been suffered so long to, exist without coatroul or limitation, or witheut the adoption of provisions calculated to counteract. the evils resulting from. their inumividence or, excess. It would he vain to suppose that we could now, by any act of the Legislature, extinsnish the existing country. banks, oven it were desirable; but it may be within our power, gradually at least, to establish a sound system of Banking throughotit the country; and such a system Can be formed, there can-be little doubt that it would ultimately extinguish and abiorb that is ohjectioneble and dangerous in the present banking establishments. There appear to be two modes of attaining: hia Object le-. Firet—That-the Bank ot' England slikiitid establish branches ef its own bode in different parts of the country. Secondly—That the Bank of England should give up its ex. elusive privilege as to the number of penmen engaged in bank. inn, except within a certain distance from the metropolis. It has always appeared to us, that It would have been very' desirable that the, Beek should heve tried the first of these plans ; that of establishing branch banks, upon a limited scale. But we are not nieensible to the difficultiee which would him attended such an experiment , and we arc quite satisfied that it would he impossible for the Bank, under present circumstances, to carry into execution such a system, to the extent necessary for _providing for the wants of the country. There remains, therefore, only the other plan, the surrend er by the- Bank of their exclusive privilege, as to the number of partners, beyond a certain distance from the metropolis. The effect of such a measure would be the gradual establish ment of extensive and respectable banks in different parts oldie country ; some, perhaps, with chartehi from the Crown, under Certain qualifications, and some without. • Here we huve again the advantage of the experience of Sane 'land. 4. • In England. there arc said to he between eight and nine hundred country banks; and is no exaggeration to suppose that a great proportion of them have not been conducted with u due attention nethose precautions which are necessary for the safety of elllienking establishments, even where their property is most ample. When such banks *tope their creditors,may ultimately be pelt' the whole of their demands, but the delay, and shock to credit may, in the mean time, involve them in the same difli entty, an d is always uee ded with the greatest injury mid lief. feting in the districts where such stoppages occur. If this be must ; it be when ( as too often happens) they rest on no solid the case wher e t h e so lidty of the hank is unquestionable,' what foundation, In Scotland there are not more than thirty banka, and these bunks have stood firm amidst all the convtileione in the money' market, in England, and amidst all the distresses to which the manufiteturing and agricultural interests in Scotland, as well in Englund, have occasionally been subject. Ihnike of this description must necessarily be conducted upon the general understood anti approved pritaciples of banking. Indivldueli are, from the nature of the institutions,"pre. eluded from *p ecu l at i ng in the manner in which persons en . gaged in country, and even in London banks, speculate in England. • is to permit ev er y d escr i pt i on If the con cerns of the country he carried on with ou t an y reason efi other hank th an t h e B a nk of England, there mi g h t b e some see f t or or no th t e ir i t w er , fe a ri t n p g reie w i i i d t : their exclusive privilege; but the of banking, except that which is solid and secure. Let the Bank of England rata on the dangers to which it has been recently subject, and let its Directors and Proprietors then say, wh e th er , for their own interest, such an i m p rove ment' us is suggested in the banking system, is not desirableetind even necessary. The Hank of England may perhaps propose, as they did, upon a former occasion, the exteneion of the term of their ex , DOUSE OF COMMONS. Sir E. 11A RVEY presented a petition from 13ekenford, in Essex, praying for increased facility in the 'recovery of small debts. Sir F. BLAKE presented » petition agnimit negro.slavery, from Berwick-upon-Tweed. Mr 111 3,CIi y tIURNE prescamted a petition from Bolton, in Lancashire, for an eltertinn in the't!orti L. Mr.' 111/Te pra lt IN ing SON present a ed a petition for leave aWs to amend the act for repairing the road between halmallock and Charle viikt. Sir .1011 N NENITrowr moved for conks of till cornhinni cations between the Courts of Low nod bquity in Ireland, the lied) Ouverumentond time Commissioners for time. questions of law and revenue, rtlittivt: to propositions for improvement in die maintgeimment of the airairs SIERRA 'LEONE . .. • • • Dlr.. H tIME begged to ask thu llnn. Secretary for the Colo.. flies, wiutt.had been,tiotwhy the Commissioners sent out to Sierra Leone ; and whether any report upon the subjeet WWI in a train to he laid before the Eloutie - P • • ' Mi. WILMOT HORTON said that all lutd been done which was possible .within, the ,time. , The Commissioners bad been carefully selected, and directed to collect information of any and every description, relative to the affairs of the colony. But the cianatissioners had not soiled until the middle of lust Novtmaxr, • Mr. 11111VE1r. wished to hriow'letheia would be any objection to laying the dispatch►s received from General Turner before do r House? , if there was Any ftiliieuity, tw would native for them specifically. Mr: W. HORTON said, fliat without time for consldera , tion, he could not consent.- Perhaps the floff Member had better make u formal motion. CAPE OF 0001) HOPE. Mr. HUME was auxious to ask another question, too, upon a subject of great public interest— , nainely, ea to what was doing of late at' the Cape of Good Hope. it was three years since 14 counnioioll had been sent out, in conseqUenee of repeated cum. plant!, to inquire Into the state of that colony ; and, its ha as be recollected, no report _from those CommisitiOners had ever been given to the country . . He wished to, Ittitiw . whether any ,reports Bail been receive, and when they would be laid upon the' ablo ? Mr. W. 11011. TON said that no doubt many reports had (teen received ; but, after the intimations which had'been lately Oven Upon the subject of the. t %ipe,--(llere the Lion. Gent. spoke in so low a tone of video that it was almost impossible.to catch I) words in. the gallay)--it had been thought that it Irsight be inconvenient to 1.1% those reports before the House. r. HIP4IE said that the commission to which be allutb lest&beett ordered hstbre any proceedings against any Noble Lord, to whom the Hon. Secretary referred, had heen intimat ed. it they were of a distinct character, and unconnected with those proceedings, he thought. they ought to be given to the Ihmie. Is l le. WILMOT HORTON replied, that the CollirtlitNiOnell in queeiden had been tient' to the Cape of Good Hope for the wpm of inquiring into the institutions ot that Colony, and ,auggesting alterations or ititprovemonts. .Now th e m". n em , her would be aware., that their regniar duties had been impeded by the necessity of hearing and examining into individual com plainta. For this renson no report upon the general slate of the .Colony had as yet been received front theta. NENltlcivs CAST Mr. DENISON presented a petition tmml‘lr.,Kenrick, en. treating tli.tt the Howie would pursue its investigation of his 4:onduct, os by that means alone he could hope to fully acquit •Itimsell. The prosence of Lord Middleton, who had sat as; „Chaim:inn of the Surrey Sessions, would be necessary to the pe• adorer in his defence ; and to obtain that Noble Lord's evi , deuce, a message to the House of Petra would be necessary.— The petitioner therefore prayed that the House ._wtitild adopt the form to obtain this permission ; and 'further allow hint Wt," petioner) to answer the charges against hint, by him. aelf, ids ;attorney, and counsel. Mr. Domain concluded by moving that a Message Should, in due course, be sent to the ac cor d gl Mr. DENMAN could have no objection to the motion; and dt.tsired to change his notice of examining witnesses from next to Monday. TUE ADDRESS. Tice .C.IIANQEI.4I4OII .0f the .EXCILEQUER 'rough , uP the Royal autwor to ,the Aftiress ; whiOh 'was received ao JAwdiag}y. Sll fP fIUff4DING. itotietasoN pr e sente.d a petition from Mr. John cotnpisining tiiiit the state of ih,e ships in the met, ennui wise was declining, and praying fbr inquiry, Sir ISAM:COFFIN said, that if Mr. B urr idge was to be listeniad to, tbree-fourths a the ,ships in the,llo7 were rotten BANK OF ENGLAND. clusive privilege, as to the Metropolis and its neighboUrhood, beyond the year 1833, as the price alb% concession., It would be-very much to' be regretted that they should -re quire any such condition, It is clear that In point of securits , they would gain by-:the concession proposed to them, inasmuch• av their own safety is now necessarily endangered by all such convulsions in the country . circulation es we have lately and formerly witnessed. lii point of profit would they lose any thing by it for which they are entitled to demand compensation ? It is notorious, that at the present time their notes circulate in no part of England beyond the metropolis and its neighbour hood, except in Lancashire ; and perhaps for that district some special provision might be made. But as it is' the interest, so it has been and ever will be the endeavour, of the country bankers to keep the Bank of Eng land notes out of circulation in those parts of the kingdom where their own circulation prevails. In this they must always he suceeasful, whilst the public credit continues in its ordinary state, and the exchanges not unfavourable. to this country. — The Consequences are, that in such times the Bank of England becomes ip a manner the sole repository for told and, in times of an opposite tendency, the sole resort for obtaining it : that at 'one period their legitimate profit if curtailed by' an accumula tion of treasure beyond what would be required by a due atten tion to their own private safety as a banking establishment; and at 'another period, they are exposed to demands which en danger that safety, .and baffle all the ordinary calculations of foresight and prudence. • - If then the Bank of England has no country circulation, ex cept in the county above named, the only question for them to consider is, wlietlier, onthe ground of • profit, as well as sec A-is rity to themselves, the existing country circulation shall (il' shall not be improved. . With respect to the extension of the term' of their exclusive. privileges in the metropolis and its neighbourhood, it is obvious, ' from what passed before, that Parliament will never agree to it. Such privileges are out of fashion; and wkat expectation .can: the Bank, under present circumstances, entertain that theirs will be renewed ? But there is no reason why the iankof Eng: land should look at this consequence with dismay. They will remain a chartered Corporation for carrying on the business of. Banking. In that character they will, we trust, always con tinue to be the sole Bankers of the state, and with these advan.. tages, so long as they conduct their affairs wisely and prudently, they always must be the great centre of Banking and circulation. Theirs is the only establishment at which the dividends due to the public creditor can by law be paid. It is to be hoped therefore, that the flank will make no diffi culty in giving up their exclusive privileges, in respect to the number of partners engaged in banking, as to any district miles from the metropolis. Should the Bank be disposed to consent to a measure of this °nature, in time to enable the Government to announce such a concession at the opening of Parliament,, it would :And great facilities to the arrangement which they may have to propose for ensuring the stability of private cre dit, in which the support of public credit and the maintenance of public prosperity are so materially an 4 closely involved. • No. 11. At a Court of Directors at the Dank, Jan. 20, 1026. This Court having •taken into consideration the important Paper received from the first Lord of, the TreesUry and the Chancellor of the Exchequer, have resolved— That, however essentially they may differ on certain views and sentiments therein laid down and expressed, it is not for the Court at the present moment to offer any opinions of their own, the Paper appearing' . to be intended as declaratory of the grounds on which Ins Majesty's Ministers have come to the determination to require the Bank to give up its exclusive pri. vilege as to the number of partners engaged in banking, except within a certain distance from the metropolis. • ft cannot, however, be. considered inconsistent with this for. bearance, to state the apprehensions of the Court of Directors, that confidence is not so fully restored as Lord Liverpool and the Chancellor of the 'Exchequer seem to Imagine. Though the panic has subsided, credit, both public and pri. rate, remains in a very uncertain and anxious state. That the country circulation is in many parts extremely de. fective • cannot 'be centroverted 4 - and the Bank would very re. luctani l ly oppose itself to any measures tending to ameliorate It, but would be glad to promote that object, either by fresifexer. dons on their part, should such be found practicable, or by any reasonable sacrifice. • • . Under the Uncertainty in which the Court of Directors find themselves with respect _to the details of the plans of Govern ment, and the effect which they may have on.the interests of the Barak, this Court cannot feel themselves justified in recall mending to their' Proprietors to give up the privilege which they now enjoy, sanctioned and confirmed asit is by the solemn Acts of the Legislature. No. In. The First Lord of the Treasury and the Chancellor of the Exchequer have duly considered the Answer of the 20th instant: • They cannot but regret that. the Court of Directors should. have declined to recommend to the COurt of Proprietors the consideration of the Paper delivered by the First Lord of the Treasury and the Chancellor of.the Exchequer to the Governor and Deputy Governor of the Bank, on the 13th instant. The statement contained in that paper sneers to the First Lord of the Treasury and Chancellor of .the xchequer so full andexplicit on all the points to which it relates, that they have nothing further to add, although they would have been, as, they still are, ready to answer, as far as poasible, any specific questions which might be put, for the purpose of " removing the uncertainty in which the Court of Directors state theMselves to be with respect to the details of the plan suggested in that paper." After all, the simple question for the Bank to con s id er whether they arewilling to relinquish their exclusive privilege as to the number of partners engaged in banking at a certain distance from the metropolis ? The First Lord of the Treasury and the Chancellor of the Exchequer are satisfied that the profits of the Bank would in no degree be affeefed by their consenting to such'a,proposal. Convinced of this, and that its adoption by the Bank is as 'important to their own security as to that of the public, it does not-appear that-the Bank can be equitably entitled to claim any compensation for the surrender of this privilege of their charter. Against any proposition for such compensation the First Lord of the Treasury, and Chancellor of the Exchequer formally protest ; but if the Bank should be of opinion that this concession 'should be accompenied with other conditions, and that it ought not to be made without them, it is for the Bank to bring' forward such conditions. Fife House, 23d January 1826. No, IV. At a Court of Directors at the Bank„ Jan. 26, 1826; The Governor laid before the Court the following Minute of the. Committee of Treasury ; Committee of Treasury, 25th January 1826. The Committee of Treasury having taken into conside. ration' the paper received • from the First Lord of flue Trea sury and the Chancepor °Ville Exchequer,. dated 23d Ja nuary 1826, and finding that his Majesty's Ministers perse vere .in their desire to propose to restrict immediately the exclusive privilege of the Bank, as to the number of part. • trers engaged in banking- to a certain distance from the metro. polis, and also continue to be of opinion, that Parliament would not consent to renew the privilege at the expiration of the pe riod of their present charter ; finding also, that the proposal by the Bank, of establishing branch banks, is deemed by his Ma jesty's Alinisters inadequate to the wants of thecountry, are of opinion4hat it would be desirable for this Corporation to p ropose as a basis, the Act of the 6th Oeo. 4, c. which states the con ditions on which the Bank of Ireland relinquished its exclusive privilege ; this Corporation 'waiving the question of a pro!oaga thin of tune, although t he Committee cannot agree in. the opinion of the First Lord of the Treasury and the Chancellor of the Exchequer, th a t th e y a r e not making a considerable se crifice, adverting especially to the Bank of Ireland remaining in possession of that privilege five years longer thaPthe Bank of England. .• -Itesolved—That the foregoing reeonimendation of- the Com mittee of Treasury he agreed to; and that the Governor and Deputy-Governor be requested to lay it before the First Lord of the Treasury acid 'the Chancellor of the Exchequer. No. V. The First Lord of the Treasury and the , Chancellor of the Exchequer have taken into consideration the paper delivered by the Governor and Deputy Governor of the Bank on the 27th instant. They, think it right to lose no time in expressing tbeir con. currence in the proposition which his been sanctioned by the Court of Directors, as to the exclusive privilege of the Bank of England, and are willing to agree that the two clauses inserted in the Irish Act of last year, and referred to in the paper corn. =ideated by the Governor and Deputy Governor on the 27th instant, shell be inserted' in the; Bill which will.be necessary to give effect to the new Oran_ gement. . The First Lord of the Treasury and the Chancellor of the Exchequer cannot conclude without adverting to that part of the paper of the. Bank which respects branches of the Bank of England. in their paper of the 13th of January the First Lord of the. Treasury and the Chancellor of the Exchequer have stated the reasons why they are or - opinion that, under all the establishmen t of branches of the Bank ildnot of it se lf b e su ffi c i ent to meet a ll ithhee present e cxiieeEnnLcnigeslaonfd circum s tances,i w the conntry ; but they are . so fair from wish. leg to discourage the establishment of such branches, that they are decidedly of opinion, that the formation of them, und er proper regulations, will be highly advantageous both to the Bank and to the community. rife House, 28th January, 1821 PARLIAMENTARY PROCEEDINGS. HOUSE OF COMMONS. ORDER OF THE DAY FOR THIS DAY. &Pori of Committee of Supply, with the resolution " That a 'Supply be granted"—to be presented. NOTICE OF MOTION FOR THIS DAY. • Mr. R. Martin (of Galway)—To move for leave to bring in a Bill to amend the Irish Election Lan: 40, • PRICE OF STOCKS TIIIS Bank Stock 3 per Cent. Red. 3 per Cent. Cons. 3 per Cent.. Ditto Red 4 per.Cerit. New 13ank Long Aim. India Stock Ditto Rand, par 1 pm. South S‘ Stock PRICES OF roams, t? Austrian this, 5 per cent.... Brazilian Bds 55 1825 Scrip Buenos Ayres lids 7. Chilian,Bds, 6 per cent—. Colombian lids Do. do. 1824 b7ila oi 7 61 Daniih,,6-per cent: Do. 1825. Greek Bds Do. 1825 Guatimala 51 vilest) lids 59 Do. - 1825 -..,,..~ DAY AT ONE,O'CLOCK. Old Annuities New Ditto • Ex. Bills 10001.1X'.. par 2 dis. Ditto 500/. lid. -1 dis. par Ditto Small lid .2 4 Fn. Ditto Advertised. • Bank for Acct. • 7.4 India for Acct. Cons. for ,acct. NDS AT ONE o'cr.OcK Mexican Scrip Neapolitan; 1821 Neapolitan Scrip Peruvian Bonds Do. • Scrip Portuguese Bonds - Prushian, 5 per cent. ‘... ;Oh Ditto New • Russian, New,4 p. ct. 8 3 1 Spanish 921, . 5 p ct. 1823 French Rentes, sp. — 7 - 7 -Exchange —f. —c. 3 p. C. Exchange ....—f. PRICES or ‘SICIUES AT ONE O'CLOCIi. Per Share. , . Anglo-Mexican Mining Company 55 Anglo-Chilian Mining Company . Colombian Mining C 9 OmPaUy • Potosi La-Paz and Peruvian Alining Association ....... New United Mexican Mining Company Alliance Fire - and Life Assurance Company .. ...... --' 5i Ditto, Marine Department, 13 I British Iron Company Pearl 'Fishery CompanY, Yellow Receipt ............ .. rs Vi i Provincial Bank of Ireland FOIXEIGS 11411,5. Lisbon • Clottenburet liamburgli • Francs. . - America - Dt K. ,0 .4 tt t(i WATER AT LONDON MUDGE TO.MURRO‘r, Morning, 41 minutes after 3.1 Evening, 55 minutes after 3. THE SUN. SOLEM QUIS DICERE FALSUM 'AUDS4 LONDON, too , WEAVESDAY EVENING, FEBRUARY 03 The E6ile of yesterday, reached WWII this morning by Express. A communication from Odessa, of the 17ih of January, furnishes on ill' teresting addition to the particulars already bed fore the Public, on he subject of the military conspiracy in Russia. It will be seen, by the subjoined extract from the Auggburg Gazette,l llll9 four Generals and several Officers of the Army i n Bessarabia have been arrested,and conducted into the interior of the Empire. The disaffection of these •,. 1 „ 0 officers appears to have exc it e d so gr eat sulP l ‘ 4 "? of the fidelity of the soldiers, that it is even in . contemplation to disband the Army of Bessarabia.. Whether it will be politic, to incorporate the 1 " dividuals of an army so generally suspected' with.cOrps-that may be yet untainted, is a c r ies• tiou hich might demand serious ceosideratia' The Russian Goiernment would in such case9 lje then reduced to the dilemma, of haiartilPg the dissemination. of a revol u ti onar y spirit, eith er in the army, or' the population of the itu s9 ' 3l Empire : " The St. Petersburgh conspiracy appears to have had deel' es cr . ramifications than was at first believed, Intelligence from sayable sayable announ ces t h e arrest of four Geners,ls and seve ral ', LI ccrs, who have been con d ucted i nto the inter i or ., It is new " 1 1 but, perhaps, witho ut any ground, that th i s army will lit ti' re The late E m p eror , i t is now certa i n , was full , YP ti sv r• of this plot, and th a t a f ew d ays be f ore h e was taken I" '% lll lO mended the Count CzernitschifF, to institute a strict inquiry !n o . the affair. The ilineskand iudden death of the ErnPer °r/ bably warded the eitecutionof these commands, and the , - 0 0 Government is equally well infOrmed of the 44 0 e ' r th y factioO, who perhaps tbem; e l ve s did not 'foresee the. were about to inflict upon humanity." The latest quotation of Rentes is, for the Fives, 99f. 4c.; for the Threes, 65f. 60c. Lisbon Gazettes to the 30th of January, I P c/° 1 ; si v p, were received last n i g ht. Th e y 01 1 ts nothing of the smallest Importance. The follo" ingnre extracts:— Ltso 0 .1 171 ' 24. A Royal Decree orde rs th a t th e . measur es prescribed 11 .. . 11 , Majesty's Decree of Nov. 19 last, for diminishing the cllsbwt7v; meets of the Royal treasury, shall be extended to all the c , to g, and towns of tho se ki ng d oms a nd their dependencies . ; 54 ,d in the colonies, when the Magistrates, on occasions of them of new Prelates or Governors, order the inhabitants, 65 izti os to illuminkte their houses, such illuminations shall not be T o in the fortresses and public buildings at the exPeDee public treasury.. • SO • e ' is of Yesterday being the birt P h.day of her Majesty the T " is Brazil, was kept with great splendour at Court. 000 JAN. 30.—The Gazette contains a • Royal Letter to tu e t tt o vcrnor of the r.ores; declaring that it is fully provedtbh: h,c l charges brought a g a inst some of • the inhabitants, vilr".oo voted an add rers to hi s ' 3f a jesty, soliciting . the continuo° ee, vi the late Governor in his office, are wholly unfotUulol' fa onF °i =teen calumnious, those persons having, in giving thol • their respe c t ; t o th e i r Governor, acted in every Vir t6 :: o 0 4 1 all the respect due to the laws and hie Majesty, 3° vi ,", o — always shewn'themselves faithful and loyal subJe-- EXCHANGE ON LONDON.JAN. 27..4* Ai ---""•••••••", Frankfort Papers to the lit instant, lin :;01 this inornin; and furnish the foilowing 1/3°('